What is a naked loan?
Naked strip (naked loan) means that when borrowing money, the borrower holds a naked photo of his ID card instead of an iou. In the event of default, the lender forces the borrower to repay the loan by exposing nude photos and contacting the borrower's parents. "Naked loan" is worthy of attention —— Female college students use nude loans. In the event of default, the lender threatened to expose nude photos and contact the borrower's parents, forcing the borrower to repay. Some borrowers who have no repayment ability take risks to borrow usury from lending gangs in order to obtain loans. Lending gangs privately negotiate lending rates with borrowers, asking borrowers to "take nude photos" and use some internet finance and social tools as platforms and excuses to complete illegal usury lending. Afterwards, the parties overdue in the case of knowing the consequences, causing the creditors to put pressure on them with nude photos. This kind of behavior is extremely irrational and irresponsible to oneself. The transactions of usury gangs are nominally conducted on the Internet platform. In fact, it is a personal agreement, and private transactions are often subject to private agreements and bypass supervision.
What are the legal problems behind naked loans?
Private lending refers to the financing behavior between natural persons, legal persons and other organizations. As the name implies, the so-called "naked loan" also belongs to the category of private lending. According to the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases, the law protects the interest of private lending with an annual interest rate of no more than 24%. For the interest paid, the borrower requires the lender to return the part that does not exceed the annual interest rate of 36%, which is not supported by the law. However, even if the annual interest rate exceeds 36%, the borrower has the right to demand the return or directly offset the principal and unpaid interest, which is supported by the court.